Schlumberger (NYSE:SLB) Price Target Cut to $57.00 by Analysts at UBS Group

Schlumberger (NYSE:SLB) had its price objective lowered by UBS Group from $63.00 to $57.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other analysts also recently commented on SLB. TD Cowen increased their price target on Schlumberger from $62.00 to $64.00 and gave the company a buy rating in a research report on Monday, July 22nd. Benchmark reaffirmed a buy rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Piper Sandler dropped their price objective on Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reissued an outperform rating and set a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an overweight rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $66.29.

Schlumberger Stock Down 0.8 %

SLB stock opened at $42.41 on Wednesday. Schlumberger has a twelve month low of $38.66 and a twelve month high of $61.41. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $44.48 and its 200-day moving average is $47.38. The firm has a market capitalization of $60.22 billion, a PE ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts expect that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the period. Capital World Investors increased its position in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Capital International Investors increased its position in Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after buying an additional 89,483 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.